Principal Financial Group Inc. Acquires 24,889 Shares of Viasat, Inc. (NASDAQ:VSAT)

Principal Financial Group Inc. increased its stake in Viasat, Inc. (NASDAQ:VSAT) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,320 shares of the communications equipment provider’s stock after purchasing an additional 24,889 shares during the period. Principal Financial Group Inc.’s holdings in Viasat were worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in Viasat during the second quarter worth $29,000. GAMMA Investing LLC boosted its holdings in shares of Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 1,772 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viasat in the second quarter valued at approximately $61,000. Carolina Wealth Advisors LLC acquired a new stake in Viasat in the 3rd quarter worth about $63,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Viasat during the second quarter worth approximately $67,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Stock Performance

Shares of VSAT stock opened at $8.41 on Friday. Viasat, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -2.69 and a beta of 1.37. The firm has a 50 day moving average of $10.58 and a 200-day moving average of $14.34.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($6.16) EPS. On average, equities analysts forecast that Viasat, Inc. will post -2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Barclays dropped their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday. Needham & Company LLC dropped their price target on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Bank of America decreased their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.33.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.